Dow Jones futures fell slightly late Monday as the stock market closed early for Tuesday’s 4th of July holiday. The major stock indices just closed at their 2023 highs as Tesla shares hit new highs with second-quarter deliveries. Meanwhile, the all-important June jobs report is looming on Friday.
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The Dow Jones Industrial Average edged higher on Monday, with the S&P 500 Index gaining 0.1%. The tech-heavy Nasdaq Composite Index rose 0.2%.
On the economic front this week, the Labor Department’s release of employment data on Friday will be the center of attention. Economists expect jobs to rise by about 200,000 and the unemployment rate to drop to 3.6%.
Ahead of this all-important jobs data, minutes of the June 13-14 Fed meeting are set to be released Wednesday at 2pm, revealing why policy makers had forecast two more rate hikes. may become
Thursday will bring a ton of data. Payroll processor ADP releases estimate of June private sector job growth at 8:15 am First unemployment claim deadline at 8:30 am Both reports seen as precursors to monthly payroll reports It is The ISM Services Index is released at 10am along with the Department of Labor’s monthly job openings and turnover survey.
stock market today
EV giant Tesla (TSLA) surged nearly 7% after the company reported better-than-expected second-quarter deliveries.Dow Jones tech giant apple (AAPL) and microsoft (MSFTMore) fell 0.8% and 0.75%, respectively, in today’s stock market move.
Chipotle Mexican Grill (CMG), dyna trace (DT), MongoDB (MDBs), Ram Research (LRCX) and Nvidia (NVDA) — as well as Dow Jones stocks JP Morgan Chase (JPM), visa (V.) and Salesforce (CRM) — one of the most notable stocks in the ongoing stock market rally.
Tesla is an IBD Leaderboard stock and Lam Research remains an IBD SwingTrader stock, but this week Nvidia was featured in our “Stocks Close to Buy Zone” column. Dynatrace was recently named in his IBD Stock Of The Day.
Dow Jones Today: Oil Prices, Treasury Yields
The stock market is closed on Tuesday, with limited futures trading.
Dow Jones futures fell slightly to fair value ahead of Wednesday’s opening bell, while S&P 500 futures fell 0.1%. Nasdaq 100 futures fell 0.15% against fair value. Note that overnight trading such as Dow Futures does not necessarily translate into actual trading in the next regular stock market.
On Monday, the 10-year US Treasury yield climbed to 3.85%. Crude oil prices fell nearly 1% on Monday, trading near recent lows. West Texas Intermediate futures traded near $70.50 a barrel.
Stock market movements: what to do now
Now is the perfect time to read IBD’s “The Big Picture” column, which features the major stock indices at their 2023 highs.
With the stock market holding onto this year’s highs, IBD’s recommended exposure levels range from 80% to 100%. However, when adding exposure, investors should be aware of current market levels and exercise caution when increasing exposure at a steady pace. It’s also important to stay alert in case there is another setback.
5 Best Dow Jones Stocks to Buy Now and Watch
Dow Jones Stocks to Watch: JPMorgan, Salesforce, Visa
Dow Jones Bank giant JP Morgan further outperformed its buy point of 143.37 on a flat basis during Monday’s gain. 5% buy zone rises to 150.54.
Salesforce managed to stabilize its post-earnings slump. We are currently testing support for the 50-day line. If there is a decisive backlash, a new entry will be born.
Megacap Technology previously outperformed two alternative entries at 194.01 and 200.10, according to the IBD Leaderboard analysis. In recent weeks, the stock has reached the 20% profit zone from the entry of 178.94 cups with handles.
Payments leader Visa topped its buy point of 235.57 on a flat basis last week and added another 0.2% to its gains on Monday. The top of the buy range is 247.35.
4 Top Growth Stocks to Watch stock market rise
Best stocks to buy and watch: Chipotle, Dynatrace, MongoDB, Lam Research, Nvidia
The IBD leaderboard watchlist stock Chipotle is about to break above the buy point 2,139.88 on a flat basis, according to pattern recognition from IBD Marketsmith. An early entry at 2,092.51 was also possible due to the trendline. Chipotle was his recent IBD Stock Of The Day.
Software maker Dynatrace formed a tight three-week chart pattern representing a short-term consolidation as institutional investors paused buying. The stock is about 3% off the recent entry price of 52.99.
IBD SwingTrader stock Lam Research has held above a tight three-week pattern of early buy points at 615.80 and entries at 630.72 during last week’s rally. Shares were down 1.3% on Monday.
MongoDB has traded strongly after a recent earnings surge that brought in new entrants. The stock is above a three-week tight formation that marked a buy point at 398.89, but aggressive investors could take advantage of trendline entries near 386.
Nvidia shares have been on a consistent uptrend after the May 25 earnings gap up. Stocks are offering new buying opportunities amid the pullback since June 20th. The stock has formed a trendline entry at 418 after finding support at the 21-day exponential moving average. Nvidia is his IBD leaderboard stock.
Learn how to time the market with IBD’s ETF Market Strategy
Best stocks to buy and watch during an uptrend in the stock market
These are the four best stocks to buy and watch on the stock market today, including the Dow Jones leader.
| Company Name | symbol | correct purchase point | Purchase point type |
|---|---|---|---|
| dyna trace | (DT) | 52.99 | narrow area |
| visa | (V.) | 235.57 | flat base |
| cloudflare | (Net) | 66.20 | double bottom |
| Nvidia | (NVDA) | 418.00 | trend line |
Source: IBD data as of 3 July 2023
IBD experts analyze the leading stocks in the current stock market rally on IBD Live.
tesla stock
IBD leaderboard stock Tesla extended its winning streak to five sessions on Monday. Amid the recent rally, Tesla shares remain well outside the buy range above the double bottom buy point of 207.79.
TSLA shares rose 6.9% on Monday following the company’s acquisition. Said Between April and June, the company delivered more than 466,000 vehicles to customers around the world, marking its best-ever sales quarter. Price cuts and discounts pushed demand well above expectations on Wall Street.
Dow Jones Leaders: Apple, Microsoft
Among the Dow Jones stocks, Apple lost momentum from its all-time high of 194.48 on Friday and fell 0.8% on Monday. The stock remains well above the buy point at 157.38.
Microsoft shares fell 0.75% on Monday, recouping some of Friday’s gains. Still, the stock is just 4% off its all-time high of 351.47 set on June 16.
In recent weeks, the stock has reached the 20% to 25% profit zone from the flat base buy point of 276.76, so investors could have made at least some profit there.
Follow Scott Lehtonen on Twitter. @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average here.
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